(Incorporated in Delaware)

We are a geothermal energy company engaged in developing enhanced geothermal systems (EGS) to generate electricity. We use horizontal drilling and hydraulic fracturing to reach underground rock formations and circulate heat from them to produce geothermal power in places that do not have natural permeability.

Note: Net loss and revenue are for the 12 months that ended Dec. 31, 2025, according to financial statements in the prospectus.

(Note: Fervo Energy Co. disclosed the terms for its IPO on May 4, 2026, in an S-1/A filing: 55.56 million shares at a price range of $21.00 to $24.00 to raise $1.25 billion, if priced at the $22.50 mid-point of its range. Background: Fervo Energy Co. filed its S-1 on April 17, 2026, for its IPO, without disclosing the terms. Estimated proceeds are $100 million, a placeholder figure. Some Wall Street pros estimated that Fervo Energy’s IPO could raise between $225 million and $250 million.)